Deloitte has today announced the launch of its Financial Services regional practice. It has been established to address the needs of financial services organisations in the Munster region and will service clients from the firm’s offices in Cork and Limerick.

The practice, which is led by Alan Cuddihy, Financial Services Director with the firm, provides a host of services to the growing number of financial services organisations operating out of the Munster - and also the South Leinster region. Alan has a broad range of experience in the Financial Services sector and, in particular, has been responsible for managing the audits of some of the largest mutual funds, hedge funds and financial services companies in his career to date. He has also been involved in controls assessment projects at a number of financial services institutions.

The practice offers a range of services including audit, enterprise risk services, regulatory consulting and taxation to companies in the funds, insurance and banking industries as well as those local indigenous companies involved in a variety of financial services activities.

Alan Cuddihy, Director, Financial Services, Deloitte said: “Traditionally international financial services organisations present in Ireland tended to be very Dublin-centric. However, as organisations have expanded, there has been a very definite shift to a more all-Ireland approach. To cite just one example, many companies operating within the funds industry have realised the benefits of ‘onshoring’ - and the advantages of having a presence in the Munster region, namely the supply of talented individuals that will enable them to meet the demand for their services and so further grow their business.

“In order to meet the needs of our clients, we need to ensure that we are present where they are - in order to be fully able to support them in meeting their business objectives. We’re excited about this new practice and are looking forward to working with the financial services industry in Munster.”

Commenting on the launch of the practice, Ger O’Mahoney, Regional Partner in Charge, Deloitte said: “As a leading professional services firm in Munster, we need to evolve and adapt to the changing business environment as and when it happens. By establishing this Financial Services regional practice, we are responding to the growing financial services industry in Munster, the emergence of which is a very positive development and sure to contribute significantly to the economic performance of the region.”

Overall in Ireland, Deloitte’s Financial Services team comprises over 250 professionals. This team is led by 16 partners. They service clients operating in all sectors of financial services – asset management, investment funds, banking, insurance, finance and securitisation. The Irish practice is also a member of Deloitte’s Global Financial Services Industry (GFSI) practice, a network of more than 20,000 practitioners around the world. The FS regional practice will also draw upon this national and international expertise in order to provide the highest levels of service to clients.

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